Founding Legacy: Theo and Greg Karedis

Founded by Theo Karedis and Greg Karedis, Arkadia is a testament to over 67 years of business excellence. It all began in 1955 when Theo and Helen opened their first milk bar in Neutral Bay, marking the inception of a remarkable entrepreneurial journey.

From Greece to Australia: Theo’s Vision Unveiled

Theo’s entrepreneurial spirit thrived. The Neutral Bay milk bar laid the foundation for a more extensive enterprise that would eventually culminate into Theo’s Liquor, a pioneering force in Australian retail.

Theos Liquor & Food Markets
Theo’s Liquor & Food Markets
Homemaker The Valley
Theo’s Liquor: A Retail Pioneer

The entrepreneurial journey expanded with Theo’s Liquor, which, at its peak, became the fourth-largest liquor retailer in Australia. With 80 stores, including The Grape in Queensland, Theo’s Liquor led the way in customer service, engagement, and innovative retail practices.

Transition and Innovation: Greg’s Role in Theo’s Liquor

Greg Karedis, Theo’s son, joined the family business in 1987 while at university, later initiating his own retail ventures. Post-education, Greg returned to Theo’s Liquor as a key executive and owner of several liquor stores run under the Theo’s banner. Greg’s influence drove the retail innovation that was a driving force for the group. Key achievements included being one of the first to introduce a large “home brand” range, centralising all ordering and logistics through a centralised warehouse. This involved a complete technology overhaul along with building and training a sophisticated call centre, all initiatives that are now mainstream critical implementations for of all large liquor retailers today.

Beyond Liquor: A Passion for Retail Persists

While Theo, Greg and their wives Helen and Patricia sold Theo’s Liquor to Coles in 2002, their passion for retail endured. Their understanding of customer needs, the importance of customer service, trusted relationships, teamwork, and continuous improvement remain ingrained in their approach.

Diversification and Growth: Arkadia’s Evolution

Post the sale of Theo’s Liquor, Theo and Greg transitioned seamlessly into ownership and management of retail shopping centres, accommodation hotels, and investment management under the banner of Arkadia, with Greg as Managing Director. Today, Arkadia stands as a robust, diversified private investment group, leveraging its 67+ years of experience.

Continued Success: A People-Centric Approach

In Arkadia’s diversified landscape, comprising Commercial Property, Accommodation Hotels, and Investment Management, the group capitalises on its collective knowledge. Rooted in the values and lessons learned over the decades, Arkadia places its people and stakeholders at the heart of every endeavour ensuring that shared success remains a key pillar of the group, which drives our sustained success and growth.

Manly Pacific hotel - street view
Manly Pacific hotel